LONDON, June 17 Private equity firm The Carlyle
Group said on Monday it had raised a 350 million euro
($467.16 million) Collateralized Loan Obligation (CLO) fund to
invest in European bank loans.
CLOs package leveraged loans into different slices of risk
and sell them to investors as bonds with varying yields.
The fund, Carlyle GMS Euro CLO, is the firm's first
new-issue CLO in Europe this year and one of the first in Europe
since the 2008 financial crisis. It will invest mainly in new
issue and secondary market European senior secured bank loans.
"We are pleased to be at the forefront of the re-emergence
of the European CLO market and our intention is to be a repeat
issuer similar to our US CLO business," Colin Atkins, Head of
European Structured Credit at Carlyle, said in a statement.
The deal was arranged by Barclays.